The integration of OPAY directly on Paystack’s checkout page would allow Nigerian merchants using the payment gateway to accept payments directly from millions of OPAY users across the country. This development is part of Paystack’s strategy to build payment methods on bank transfers in Nigeria.
As you should have known, payment methods on bank transfers accounted for over half of all transactions the payment gateway processed in 2023. This shows the widespread adoption of bank transfer among users. So, by enabling merchants to accept payments directly from customers’ OPay accounts, Paystack is simply expanding its support for transfer-based payment systems.
This integration of OPay directly into Paystack is also bypassing payments with debit cards. Debit cards have long served as a bridge between merchants and consumers for payments and since card payments come with extra fees that can increase the total transaction cost, “Pay by OPay” will be used as a replacement.
How to Use “Pay by OPay” on Paystack
OPay users can now pay merchants that integrate Paystack as a payment gateway directly from their wallet. Merchants, on the other hand, can now use “Pay by OPay” to accept payments directly from bank accounts throung bank transfer. The integration can be used online directly through the OPay app or web interface.
“Providing payment methods that customers know and trust is a vital component for businesses to prosper,” said Shola Akinlade, CEO of Paystack. “OPay will continue leveraging modern technology to deliver innovative financial services to our customers,” added Dauda Gotring, Managing Director of OPay.
What do you think about this “Pay by OPay” integration? Is a good payment system or a bad one? Let’s know your opinions in the comments section.
